Globally, the private sector is moving towards expanding the growth of tokenized assets trading, using private money channels (stablecoins) as payment systems. At the same time, the public sector, often central banks in alliance with private sector partners, is engaged in ambitious projects, exploring the feasibility of public payment systems using wholesale CBDCs to facilitate...Read More
The United States stands at a critical juncture in the evolution of the global financial order. For decades, the dollar’s dominance has rested on two pillars: the unrivalled liquidity of the US Treasury market and the political confidence that America’s fiscal and institutional system would remain credible and thus supportive of the continuation of the...Read More
From 8.00 on 1 August Thai citizens with smartphones (58m.) can register for the 10,000-baht (US$280) digital wallet handout through the Thang Raj App (Government Way – see below). The wallet – worth about 2/3 of the average national nation income – is available to Thais age 16 or older with incomes under US$23,000 and...Read More
The advent of digital stablecoins and the continuing decline of cash are prompting central banks across the world to explore developing their own digital currencies. Although few have launched so far, the potential for central bank digital currency (CBDC) promises a revolution in banking. Michael Lloyd considers the opportunities and threats that the arrival of...Read More
The recent meeting of the BRICS in South Africa, or to give its full title – The BRICS Partnership for Global Stability, Universal Security, and Innovative Growth – witnessed its substantial enlargement, from the initial five countries of Brazil, Russia, China, India, and South Africa to 12 countries. The enlarged BRICS now includes the UAE,...Read More
GPI Associate Director and Senior Fellow, Dr Michael Lloyd, will speak at an upcoming Z/Yen webinar on “Global Financial Challenges – The Role Of Central Bank Digital Currencies“, which will be live streamed on the 15th of March 2023 from 11:00 to 11:45 GMT. This is a free event and you can register for the...Read More
This article was originally published by the Digital Pound Foundation. Central bank digital currencies (CBDCs) – a digital form of central bank-issued fiat currency – have seen explosive growth in interest over the past four years. At the start of 2023, 114 countries, representing 95% of global GDP, are currently exploring CBDC, of which 60 are in...Read More
This article was originally published by Z/Yen. There is much discussion about trust in money these days, especially, towards the end of 2022, in relation to crypto-currencies and to some stablecoins. Indeed, money, though intangible, is all about trust. This is true whether we are discussing private money or public money. However, beyond trust per se, the...Read More
The article (link) examines the rationale behind the exploration by the vast majority of the world’s central banks of introducing central bank digital currencies (CBDCs). The phenomenon is discussed in the context of a number of key issues: a) the main drivers of central bank interest, b) the crucial role of public money in supporting...Read More
About the GPI
The Global Policy Institute is a research institute on international affairs. It is based in the City of London, and draws on both a rich pool of international thinkers, academics as well as policy and business professionals. The Institute gives non-partisan guidance to policymakers and decision takers in business, government, and NGOs.
